Twice as many loan fraud cases recorded in the city this year, compared to last year

Mumbai: Statistics provided by the Mumbai Police have revealed that the cases of loan fraud recorded this year have already doubled compared to the cases recorded during the last year.

While 42 cases of loan fraud were recorded in Mumbai last year, this year 96 cases were recorded till last month, statistics show. Moreover, only five cases have been detected this year and 16 people have been arrested in these cases.

Speaking about the modus-operandi used by loan frauds, an officer said: “These lenders are not officially registered with RBI as approved lenders. No physical address or contact details of the lender is available on the application. or on the website.These lenders offer loans with just a few clicks and do not care about credit check.They focus on requesting access to all personal data on the phone especially contact details. They also offer a secured loan regardless of your CIBIL rating.”

“A few lenders also demand prepayment under the guise of processing fees or GST charges. Lenders offer time-limited offers and ask applicants to make decisions almost instantly using scare tactics, mentioning that the loan offer expires soon.loans to any victim,victim is required to download a particular app which asks permission to access all phone data.scammers then use said information to threaten victim and extort money the officer said.

Police are advising citizens not to take loans from unauthorized apps or unregistered NBFCs.

“One can check the details of NBFCs at https://rbi.org.in/scripts/bs_nbfclist.aspx. Always read reviews of the website and apps before applying for a loan. Also, never download DMZ or APK files from any websites, social media or messaging platforms. One should never complete the transaction during the call. Also, do not click or fill in any suspicious links,” the officer said. .

According to police they are taking awareness measures for the citizens and also updating their men to fight cyber crime but still many people are being fooled by the scammers as they target the citizens by giving them loans without too much hassle.

In May this year, 38-year-old Sandeep Korgaonkar reportedly died by suicide at his residence in Kurar. The family had told police he was allegedly threatened and harassed by loan sharks, after which he took an extreme step. The family had told police that loan sharks were messaging and calling colleagues of the deceased and defaming his image.

Similarly, in March this year, a 43-year-old woman committed suicide after being allegedly harassed by loan sharks. Police had registered a suicide abetment case against three loans providing mobile apps and 13 others who called the victim threatening to pay his loan amount or they would send his edited photo to his family and relatives .

Safety tips provided by Mumbai police against instant loan applications:

*Check the authenticity of an application before downloading it

*Check the terms and conditions of the offer

*Don’t click or fill out short links and forms

*Never scan QR codes to receive money

*Never share your KYC documents on loan applications

*Report cybercrime on Helpline 1930 or https://cybercrime.gov.in

Loan fraud cases in Mumbai in:

2022 (January to September) –

Registered cases – 96

Cases detected – 05

People arrested – 16

2021 (January to Dec) –

Registered cases – 42

Cases detected – 05

People arrested – 14

(To receive our electronic document daily on WhatsApp, please click here. To receive it on Telegram, please click here. We allow sharing of the PDF of the document on WhatsApp and other social media platforms.)


Comments are closed.